ASIC has permanently banned property developer Trent Simon Giumelli, of Noosa, Queensland, from providing financial services after determining that he demonstrated serious incompetence and irresponsibility, as well as a disregard for the law and a lack of fairness, professionalism and trustworthiness.
Through companies collectively known as the Giumelli Group, Mr Giumelli conducted real estate wealth coaching programs and offered members of those programs opportunities to invest in property developments. ASIC found that, over an eight-year period, he operated unregistered managed investment schemes and carried on a financial services business without holding an Australian financial services licence.
According to ASIC, during this period Mr Giumelli raised around $48 million from members of the public across 27 projects. The regulator concluded that he had not complied with financial services laws and that it had reason to believe he is not adequately trained or competent, and is likely to contravene financial services laws in the future.
Scope of the banning order
The banning order, which took effect from 6 May 2026, permanently prohibits Mr Giumelli from providing any financial services. He is also banned from performing any function involved in the carrying on of a financial services business, including acting as an officer, manager, employee, contractor or in any other capacity.
In addition, Mr Giumelli is permanently prohibited from controlling an entity that carries on a financial services business. ASIC has recorded the banning order on its Banned and Disqualified register.
Authorised representative history and review rights
Between 8 November 2024 and 21 August 2025, Mr Giumelli was an authorised representative of Wicklow Fund Services Pty Ltd, previously known as Lanterne Fund Services Pty Ltd. Since 17 October 2025, he has been an authorised representative of Wholesale Securities Pty Ltd.
Mr Giumelli has the right to appeal ASIC’s decision to the Administrative Review Tribunal, which may review the banning order.
